XRP stabilizes at $0.6: Will this group push the altcoin to $1?

• XRP has stayed in the $0.6 price zone.
• Its RSI has maintained a very bullish trend in the last few days.

Ripple [XRP] has recently seen a surge in its price, positively impacting other aspects of its market dynamics.

While the number of XRP holders has yet to increase significantly, the existing holders are experiencing a noticeable improvement in their investment value.

Ripple standing its grounds 

XRP has shown resilience in maintaining its position in the $0.6 price range since spiking around the 17th of July, according to an analysis on a daily timeframe chart by AMBCrypto.

Also, XRP’s prices have been oscillating between gains and declines over the past few days.

On the 24th of July, XRP experienced a significant rise of 3.40%, reaching approximately $0.61, up from a starting session price of about $0.59.

However, this gain was short-lived, as, by the end of trading on the 25th of July, it had retreated by over 3%, returning to the $0.59 range. The price has increased to around $0.6, marking a slight increase of just over 1%.

At press time, the short-term moving average (yellow line) and the long-term moving average (blue line) were positioned at around $0.54 and $0.49, respectively, as support levels. 

Moreover, the configuration of the moving averages indicated that the yellow line remained below the blue line. Still, a slight upward trend in the yellow line suggested improving short-term momentum.

This could signal a forthcoming bullish crossover if the trend continues. The crossover would be a positive signal for further upward movement in XRP’s price.

Number of holders remain stable

Despite XRP’s recent developments, the total number of holders has remained relatively stable.

According to the data, at the beginning of the month, when the XRP price was around $0.4, there were approximately 5.23 million holders. As of the latest figures, this number has slightly increased to about 5.25 million.

XRP profit picks up

XRP’s supply in profit, as analyzed by AMBCrypto via Santiment data, has shown a significant response to the recent price movements.

Read Ripple’s [XRP] Price Prediction 2024-25

Earlier in the month, there was a dramatic increase in the percentage of the supply in profit, jumping from around 66% to over 86%. 

As of the 24th of July, this metric rose even further to over 87%, marking the highest point since April. At press time, the supply in profit was 86%, which translates to around 86 billion XRP tokens in profit.